Netflix investing $500m to produce content in Canada

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Coming soon to a screen near you: Netflix Canada.

Netflix has entered into an agreement with the federal government that will see the streaming giant investing a minimum of Cdn$500 million to produce English and French original content in Canada over the next five years.

As part of the agreement, the company will establish Netflix Canada, which will be its first permanent film and TV production company outside of the United States.

“This agreement – the first of its kind in the world – will ensure the investment of more than $500 million in original production in Canada in both official languages,” said Minister of Canadian Heritage Mélanie Joly.

“It signals a meaningful partnership in supporting Canadian creators, producers and Canadian creative work and in bringing that work to millions of viewers around the world.”

Canadian content will be promoted on a global platform, the company said.

Netflix partnered with the CBC earlier this year to create a reboot of “Anne of Green Gables,” which was met with mixed reviews.